$NE
Noble Corp plc

2024 Q3 Form 10-Q Financial Statement

#000162828024033932 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $800.5M $692.8M
YoY Change 14.78% 8.51%
Cost Of Revenue $462.4M $359.2M
YoY Change 24.66% -7.26%
Gross Profit $338.2M $333.7M
YoY Change 3.54% 32.83%
Gross Profit Margin 42.24% 48.16%
Selling, General & Admin $43.60M $39.67M
YoY Change 32.11% 22.44%
% of Gross Profit 12.89% 11.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $109.9M $90.77M
YoY Change 42.51% 27.13%
% of Gross Profit 32.49% 27.2%
Operating Expenses $153.5M $39.67M
YoY Change 39.27% -61.75%
Operating Profit $115.5M $210.0M
YoY Change -42.48% 92.37%
Interest Expense -$22.66M -$20.18M
YoY Change -274.23% -237.63%
% of Operating Profit -19.62% -9.61%
Other Income/Expense, Net
YoY Change
Pretax Income $92.82M $189.8M
YoY Change -55.79% 191.32%
Income Tax $31.61M -$5.228M
% Of Pretax Income 34.05% -2.75%
Net Earnings $61.22M $195.0M
YoY Change -61.33% 196.29%
Net Earnings / Revenue 7.65% 28.15%
Basic Earnings Per Share $0.41 $1.37
Diluted Earnings Per Share $0.40 $1.34
COMMON SHARES
Basic Shares Outstanding 142.9M shares 142.8M shares
Diluted Shares Outstanding 152.9M shares 146.1M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $391.9M $162.9M
YoY Change 59.94% -36.14%
Cash & Equivalents $391.9M $162.9M
Short-Term Investments
Other Short-Term Assets $167.6M $96.95M
YoY Change 76.41% -0.05%
Inventory
Prepaid Expenses
Receivables $752.3M $637.0M
Other Receivables $81.80M $67.58M
Total Short-Term Assets $1.411B $986.9M
YoY Change 36.77% 5.82%
LONG-TERM ASSETS
Property, Plant & Equipment $6.049B $4.214B
YoY Change 50.7% 5.17%
Goodwill
YoY Change
Intangibles $1.580M $4.356M
YoY Change -86.07% -74.4%
Long-Term Investments
YoY Change
Other Assets $573.4M $382.1M
YoY Change 170.72% 68.64%
Total Long-Term Assets $6.624B $4.600B
YoY Change 56.33% 7.87%
TOTAL ASSETS
Total Short-Term Assets $1.411B $986.9M
Total Long-Term Assets $6.624B $4.600B
Total Assets $8.035B $5.587B
YoY Change 52.5% 7.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $405.9M $340.2M
YoY Change 44.31% 9.47%
Accrued Expenses $211.8M $79.07M
YoY Change 90.77% -9.12%
Deferred Revenue $48.15M $42.95M
YoY Change 151.29% 64.16%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $26.44M
YoY Change
Total Short-Term Liabilities $900.5M $637.0M
YoY Change 74.57% 23.89%
LONG-TERM LIABILITIES
Long-Term Debt $1.981B $622.1M
YoY Change 238.22% 6.26%
Other Long-Term Liabilities $436.2M $333.1M
YoY Change 66.6% 15.31%
Total Long-Term Liabilities $2.417B $955.1M
YoY Change 185.21% 9.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $900.5M $637.0M
Total Long-Term Liabilities $2.417B $955.1M
Total Liabilities $3.350B $1.602B
YoY Change 133.31% 8.4%
SHAREHOLDERS EQUITY
Retained Earnings $445.1M $643.9M
YoY Change -4.18% 78.96%
Common Stock $4.236B $3.338B
YoY Change 25.82% -0.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.685B $3.985B
YoY Change
Total Liabilities & Shareholders Equity $8.035B $5.587B
YoY Change 52.5% 7.5%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $61.22M $195.0M
YoY Change -61.33% 196.29%
Depreciation, Depletion And Amortization $109.9M $90.77M
YoY Change 42.51% 27.13%
Cash From Operating Activities $283.8M $16.02M
YoY Change 104.6% -92.41%
INVESTING ACTIVITIES
Capital Expenditures $126.3M $141.0M
YoY Change 28.11% 32.06%
Acquisitions
YoY Change
Other Investing Activities -$387.7M $8.528M
YoY Change
Cash From Investing Activities -$514.0M -$132.5M
YoY Change 421.28% 24.08%
FINANCING ACTIVITIES
Cash Dividend Paid $57.20M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 466.8M -22.08M
YoY Change -989.17% -30.56%
NET CHANGE
Cash From Operating Activities 283.8M 16.02M
Cash From Investing Activities -514.0M -132.5M
Cash From Financing Activities 466.8M -22.08M
Net Change In Cash 236.6M -138.6M
YoY Change -2008.12% -290.87%
FREE CASH FLOW
Cash From Operating Activities $283.8M $16.02M
Capital Expenditures $126.3M $141.0M
Free Cash Flow $157.5M -$125.0M
YoY Change 292.69% -219.75%

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CommonStockDividendsPerShareCashPaid
0.40
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.50
CY2024Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.40
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.50
CY2024Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
71500000 usd
CY2024Q2 ne Stock Repurchase Program Shareholder Authority To Repurchase Percentage Of Issued Share Capital
StockRepurchaseProgramShareholderAuthorityToRepurchasePercentageOfIssuedShareCapital
0.15
ne Stock Repurchase Program Shareholder Authority To Repurchase Period
StockRepurchaseProgramShareholderAuthorityToRepurchasePeriod
P5Y
CY2024Q2 srt Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
20601161 shares
CY2024Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1600000 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1800000 shares
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4853998000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4591936000 usd
CY2024Q2 ne Payments For Capital Improvements Including Capitalized Interest
PaymentsForCapitalImprovementsIncludingCapitalizedInterest
151700000 usd
CY2023Q2 ne Payments For Capital Improvements Including Capitalized Interest
PaymentsForCapitalImprovementsIncludingCapitalizedInterest
115900000 usd
ne Payments For Capital Improvements Including Capitalized Interest
PaymentsForCapitalImprovementsIncludingCapitalizedInterest
266600000 usd
ne Payments For Capital Improvements Including Capitalized Interest
PaymentsForCapitalImprovementsIncludingCapitalizedInterest
170900000 usd
CY2024Q2 ne Operating Income Loss From Subsidiary To Parent Difference Amount
OperatingIncomeLossFromSubsidiaryToParentDifferenceAmount
22800000 usd
ne Operating Income Loss From Subsidiary To Parent Difference Amount
OperatingIncomeLossFromSubsidiaryToParentDifferenceAmount
33800000 usd
CY2023Q2 ne Operating Income Loss From Subsidiary To Parent Difference Amount
OperatingIncomeLossFromSubsidiaryToParentDifferenceAmount
16300000 usd
ne Operating Income Loss From Subsidiary To Parent Difference Amount
OperatingIncomeLossFromSubsidiaryToParentDifferenceAmount
30800000 usd
CY2024Q2 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
22453000 usd
CY2023Q4 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
4208000 usd
CY2024Q2 us-gaap Contract With Customer Asset Gross Noncurrent
ContractWithCustomerAssetGrossNoncurrent
12625000 usd
CY2023Q4 us-gaap Contract With Customer Asset Gross Noncurrent
ContractWithCustomerAssetGrossNoncurrent
208000 usd
CY2024Q2 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
35078000 usd
CY2023Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
4416000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
42948000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
19679000 usd
CY2024Q2 ne Contract With Customer Liability Noncurrent Excluding Off Market
ContractWithCustomerLiabilityNoncurrentExcludingOffMarket
28898000 usd
CY2023Q4 ne Contract With Customer Liability Noncurrent Excluding Off Market
ContractWithCustomerLiabilityNoncurrentExcludingOffMarket
23393000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
71846000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
43072000 usd
CY2023Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
4416000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
43072000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
7029000 usd
ne Contract With Customer Asset Cost Expenditures Deferred
ContractWithCustomerAssetCostExpendituresDeferred
37691000 usd
ne Contract With Customer Liability Amortization Of Deferred Revenue
ContractWithCustomerLiabilityAmortizationOfDeferredRevenue
23710000 usd
ne Contract With Customer Liability Increasefrom Cash Receipts
ContractWithCustomerLiabilityIncreasefromCashReceipts
52484000 usd
ne Contract With Customer Asset Net Period Increase Decrease
ContractWithCustomerAssetNetPeriodIncreaseDecrease
30662000 usd
ne Contract With Customer Liability Net Period Increase Decrease
ContractWithCustomerLiabilityNetPeriodIncreaseDecrease
-28774000 usd
CY2024Q2 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
35078000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
71846000 usd
CY2022Q4 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
11537000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
59797000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
14206000 usd
ne Contract With Customer Asset Cost Expenditures Deferred
ContractWithCustomerAssetCostExpendituresDeferred
12009000 usd
ne Contract With Customer Liability Amortization Of Deferred Revenue
ContractWithCustomerLiabilityAmortizationOfDeferredRevenue
38481000 usd
ne Contract With Customer Liability Increasefrom Cash Receipts
ContractWithCustomerLiabilityIncreasefromCashReceipts
19575000 usd
ne Contract With Customer Asset Net Period Increase Decrease
ContractWithCustomerAssetNetPeriodIncreaseDecrease
-2197000 usd
ne Contract With Customer Liability Net Period Increase Decrease
ContractWithCustomerLiabilityNetPeriodIncreaseDecrease
18906000 usd
CY2023Q2 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
9340000 usd
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
40891000 usd
CY2024Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
248800000 usd
CY2024Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
7800000 usd
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
18500000 usd
CY2024Q2 ne Reserves For Uncertain Tax Positions
ReservesForUncertainTaxPositions
183600000 usd
CY2024Q2 ne Unrecognized Tax Benefits Related Tax Benefits
UnrecognizedTaxBenefitsRelatedTaxBenefits
100000 usd
CY2023Q4 ne Reserves For Uncertain Tax Positions
ReservesForUncertainTaxPositions
202300000 usd
CY2023Q4 ne Unrecognized Tax Benefits Related Tax Benefits
UnrecognizedTaxBenefitsRelatedTaxBenefits
100000 usd
us-gaap Other Tax Expense Benefit
OtherTaxExpenseBenefit
6900000 usd
CY2024Q2 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0 usd
CY2023Q2 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0 usd
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0 usd
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
0 usd
CY2023Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
0 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
0 usd
CY2024Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
0 usd
ne Other Contingencies Agreements With Executive Officers And Employees Term
OtherContingenciesAgreementsWithExecutiveOfficersAndEmployeesTerm
P3Y
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
5600000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
7000000.0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
88190000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
47998000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
5096000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
35641000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-4825000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-4287000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-17421000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
18754000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-1145000 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-13450000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
4229000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
18528000 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
102798000 usd
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
55520000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
73643000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
71291000 usd
CY2024Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
71452000 usd
CY2023Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
0 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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